>> i worked for a firm that represented merck at the time, and i was hired, and that's how i got to merck you know, i look at the fact you are a lawyer by trade. what surprises you most about the pharmaceutical industry? >> well, i would say what surprises me most about the pharmaceutical industry is just the level of dedication of the people. you talked about the long lead times that you have in development, and we have researchers, as you know, who started projects when they had infants, and those projects come to fruition when children go to college. >> extreme dedication, and, yet, people still feel the pharmaceutical industry can bring down the price of pills. in a recession, studies show people break in pills to make them last. you know about that. that's sad in a way. anything we can do to change that? >> well, i think it's our obligation to price new medicines in accordance with the value they create. i recognize we have to do things to ensure people who can't afford them get them. we have things like patient assistance programs, but we have to recognize the impact of innovation o

we're seeing that at merck. >> in terms of growth, i want to ask you about merck and what you're excitedpeline. there is some speculation that we're going to see deals, really empowering growth for merck as well as the pharmaceutical group. would you say growth at merck comes organically in the next couple of years or through acquisitions? >> i would say very much organically. we have a number of important medicines in our pipeline. i'll talk about a few of them. one of our drugs, organic -- one for osteoporosis, an important medicine because the medicine that's women were using before, they'd stop using them. they've not had the right effects over the long term. that's an important medicine. beyond that, we have a very important medicine for cancer called the anti-pd1. an exciting medicine. and there's a medicine for alzheimer's which we have high hopes for. >> are we in terms of the trials for the cancer drug and some of these very important drugs in the plane? when would you actually expect those drugs to come to market? >> we expect to be filing and launching our osteoporosis drug al

john, we will have more of your pick merck on thursday. merck's chairman and ceo will be sitting down with liz claman in davos switzerland, that interview is coming up later on this week. technology stocks took off last year. they've started off 2013 pretty strong, except for one name, apple. shares of apple this year have already fallen 6% in the first 13 trading days of the year. will the earnings report on wednesday be a turn around or will it send the stock going lower? plus will the rest of the sector follow its lead? we will have more on that coming up next. cheryl: business continues. investors gearing up for a big earnings week this week. tech giants apple and google both set to report. but let's take a look at some other major tech stocks that are in the green so far for the year. starting with some of the computer makers, fox business reported last week that dell may be looking to go private. the stock is up nearly 27% in the first 13 days of trading this year. and hewlett-packard, dell's biggest competitor in the pc market actua

, i've been in merck for a while, getting a 4% dividend yield. i haven't had a reason yet to decide when and if i'm going to buy some put protection. but for those that are far more conservative than i am, that certainly would be something that would flash in your brain. i'd rather be there far more than i would in bonds. >> td ameritrade reveals how investors really feel about the markets. >> and yum brands weather the shares. and we go to the largest tech trade show. >> verizon is making news and its ceo will join us after the break. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's jus

on wednesday, october 10, circuit brother brian and melissa morris and merck mulligan and officer james johnson of the central station responded to a fire at 8 -- 824 height street in downtown san francisco. officers found the first and second story buildings involved in flames. leaving the residents, many of them students inside the six- story building in grave danger. officers immediately entered the building and began evaluating the evidence, pounding on doors and alerting them there was a fire. many of them were still asleep. essentially they were forced to withdraw from the building because the heat was so intense in the building. the fire department was still in route to the fire. not until the fire department arrived did it take over the evacuation of the fire personnel were ordered out of the building onto the street for the structure at 824 high street, and asphalt and some of the fire equipment had to be moved because the heat was so intense it was buckling the street and the water pipes. the fire spread quickly and started the fire department personnel were overwhelmed. build

merck which remember isn't back yet nearly to where it was.as $12 billion in cash flow i'm amazed at how cheap these drug stocks are on these cash multiples. consider that at&t the seller of the apple iphone is down 18 points. and verizon is barely up from that. despite in reverses from both companies. how about the stars since the 2007 peak? aren't they do for a fall since we were last at these heights home depot at gone from 41 to 67. in the interim, it has distanced itself and it is still inexpensive on earnings. it has come up to $204. but the company has almost doubled but they are forecasting $20 a share. doable number. the stock is not cheap. in the near term maybe, but in a 2015 basis, very in expensive. does disney belong up from 2034? the stock deserves this improvement. in fact, i can say there are plenty of stocks that don't be long as low as they are. alchoa, a fraction of its price tag. it has gone to positive $200 million. 3m sit a muit is a much better now than back then. just now, just now it took out it's high. and how much m

liz: we had the ceo of merck on from davos. he was very confident.every seo i've ever spoken to say it is a fact of life patents will expire at some point, we're working on a pipeline. could it outperform the best drugs? >> he really displayed a lot of sincerity in his passion taking to another level of innovation and that is why we liked it. right now we're at a place to hear more good news. they have gotten through in more recent generic threat for the respiratory product and they're looking forward, they knew it was coming for five to 10 years before we were all focused on what the earnings number would be. liz: what is the average number of drugs i in the pipeline you would like to see? some say that is a bit low for a pipeline. >> it is not about the number of drugs, it is about the potential. really what are you trying to feed, what is the sales pace they are losing for the expiration? what are they trying to create in the future? in the old days industry used to put up, look at how many drugs we have in development. we have to look more critic

merck is telling doctors to stop prescribing it. merck stock not affected.n an upswing, keeps on going. morsi the company announced it would announce a surprise at an event next week. it is very much a mystery. facebook is up $31.66 and the british coming. paul revere's teapot on sale next. ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. stuart: netflix is moving higher again. why is it moving up and where is it? >> it is up 3%. based on the news the news is a federal appeals court has ruled today it that netflix got an unfair advantage from the way the postal service pr

what's with merck falling so far behind an inferior pfizer going up at least historically. the pipeline needs improvement here or we'll see high single digits again. they will remain the order of the day if not the year until we hear about something that can produce multiple billions of dollars in the out years and i certainly don't see anything in merck's pipeline right now that can do that. verizon didn't help the cause. it's been such a good one. i think it will play catch up to at&t, which played catchup to verizon last year and the endless seesaw between the two. iphone sales will remain robust. you no longer need to worry about skyrocketing taxes on dividends. united health kept back by lack of small business formation. up just 7% last year. got hammered on the downgrade today. i don't see how much upside there can be without more job growth. which brings me to the real cellar dwellers, what we call the dogs of the dow. start with johnson & johnson. 6.9% gain last year. i bet 2013 the ceo takes matters into his own hands, breaks up the company. it's one of my favorite

last december, the merck foundation withdrew all funding to the boy scouts saying the bsa's policy ofsion based on sexual orientation directly conflicts with the merck foundation giving guidelines. if the change goes through as expected, the boy scouts could be in worse financial straits. two of the largest contributors are the mormon church tap catholic church. both which will frown on the acceptance of gays in the bsa. bret? >> bret: thank you. so do you think the boy scouts should change its policies on gays? let me know on twitter. follow me @brettbaier. supreme court justice antonin scalia says the u.s. constitution is not a living document. that's acarding to the "dallas morning news." the paper quotes scalia telling an audience at southern methodist university on monday, "it's dead, dead, dead." the justice also reportedly said law schools do not adequately emphasize decisions should reflect the letter of the law. a political crisis over the debt ceiling might be further off than you think. chief congressional correspondent mike emanuel tells us about an idea to push the deadli

a warning and recall from merck about one of its cholesterol drugs.ll have that for you when we come back on "power lunch." a, change engineering in dubai, aluminum production in south africa, squlooinchsds are . >>> merck is recalling a drug to

merck went to 120. all he said is, what's next? all i said was, 3m, then waste management, and pepsi, coke, reebok. 90, goes to 120. anyway, at a certain point i knew i had a good run. and ridiculous, and what mattered was i identified the animal spirit that would lift stocks when everyone figured it would be a matter of time that the market collapsed. it did. a few years later, the crash of '87. but in the interim we made a ton of money buying stocks at 90, it meant they would go to 120. coke, pepsi, whatever. it was insane. but it happened. just like boeing happened today. just like chipotle could get hit and the stock rallies 10 bucks today? just like asml, semiconductor equipment company i follow, reported a nasty horrendous number but not nasty and horn dus number to stop buyers. buyers rushed in and rallied to a 52-week high. here's the bottom line. if you put yourself in yogi's bear pads, hey, boo-boo, what's going on in jellystone national park? if boeing didn't go down on the biggest product recall in history, you have to

and the merck foundation cut off donations to the scouts. activists posted petitions on the internet urging a policy change, and some local boy scout charters fought the policy. >> we love the program that it has to offer, but we really have a problem with their membership and the fact that they're excluding people from our community. and we just want to stand up and let them know that we weren't going to do that. >> reporter: scout pack 442 posted a nondiscrimination policy on its web site but had to remove it under threat of losing its charter. if the national policy change is approved, pack 442 and all local charters will now be allowed to admit anyone they choose, including gays. >> i was ecstatic that they're even considering doing this and possibly allowing individual councils and packs and troops to decide what their membership policies will be, who they will welcome into their organization. and i'm really hoping that it goes through next week. >> reporter: the boy scouts of america board will consider the proposal next week and could

yahoo, google, pfizer and merck all do big business there, but koester says they're all doing a good job of managing their yen risk. there are still two months left in the first quarter, so it's hard to know how companies will be affected by currency fluctuations. to make things more confusing, many large multinationals do business in over a hundred countries. erika miller, "n.b.r.," new york. >> tom: let's get going with tonight's "market focus." >> tom: the major stock indices limped into the closing bell, finishing out a very strong january the s&p 500 spent most of the day in the red, un-inspired by the increase in irsalonncomal and savings. it was another narrow trading range of just seven points, with the index finishing down by 0.3%. trading volume picked up to end the month. th nc res traded on the big board. 2.2 billion moved on the nasdaqb the materials sector was the weakest, falling 0.9%. the energy and consumer discretionary sectors dropped 0.5% each. dow chemical was in focus among material stocks. it wants to save two and a half billion dollars as it wrestles with weak

of the pharmaceutical giant merck, had to say. >> i think the u.s. economy is poised to take off. i think it's been through some tough times. i think it's the strongest economy in the world. i think the big challenge for us is to come up with long-term solutions to the debt and deficit situation that will create greater certainty for people to make investments. >> reporter: the c.e.o. of j.p. morgan chase, jamie dimon, said here in davos that he thinks the table is set now for strong economic growth in the u.s. the c.e.o. of coca-cola told me here "we're still walking on ice" but if his words "everyone now believes the ice is going to hold." >> pelley: but, anthony, the last financial catastrophe was because a bubble burst. and what are the chances this is a bubble in the stock market? >> reporter: well, i think, scott, some people are concerned the market may be getting a little ahead of itself here, that ordinary investors are rushing back in. but it is fueled by some very encouraging economic news and we'll get another barometer of where we are next week. on wednesday, the g.d.

. >>> pfizer, merck, eli lilly among some of yesterday's top performers.olio? your precipitatiscription for ps just ahead. about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. office s

fundamentally merck and pfizer and johnson & johnson, we do need.nk you. dennis: a reduction in tax breaks and loopholes could soon start to take a toll on your account. cheryl: jeff flock from indiana. jeff. jeff: do you hear that, guys? listen. that is the sound of water flowing through $30 million water plant here in indiana financed by the way with tax-free municipal bonds. helping wealthy people, right, mr. mayor? why don't we try to soak the wealthy people? >> there's a lot of unintended consequences when people start to do that, one of the unintended consequences in the case would be 200 construction workers would not have had jobs. this water plant would not have been built and not a lot of building in the general area because we could provide water. jeff: you rely on the tax-free nature of visible bonds and they tend to help wealthy people off because wealthy people have tax issues so they help the wealthy and republicans and democrats have said maybe we have to close some of these loopholes. >> it is simply putting the tax burden back on l

held together by chevron and merck, up more than 1%, but boeing, hp, bank of america all selling off5%. this is indicative of the day. some stocks up, others down, can't get traction going on. in terms of stocks overall, the materials are weakest sector today, miners and steel makers especially coming down. banks are weak today after the wells fargo earnings report. a lot of people disappointed there. back to you. cheryl: lincoln, thank you very much. see you at the top of the hour. ♪ and time for your west coast minute. new allegations as far assed against shell oil. congressman ed penned a letter to a house committee alleging that the shell drilling rig that ran aground two weeks ago off the alaska coast for days was move in the first place to avoid higher taxes. shell denies this claim saying the vessel was moved for safety reasons. either way, the vessel is no longer in the area. despite a big increase in personnel, the u.s. border patrol is only stopping about 61% of would-be illegal aliens from crossing into the u.s.. new government report says there's a huge lack of operationa

towards pair sites like fleas and there's a new flea product on the market called actovil made by merck. talk to your veterinarian about it. there's so many options for treating pair sites on animals right now. every year they come up with a new one that's some of the rest and i would caution you very strongly not to go online and not to go to the supermarket but contact your veterinarian, because the new ones are great this year. >> all right. we are out of time. >> all right. go home, buddy. >> see how big he is? >> ha. >> just a sweetheart. >> go ravens. >> ax lutely. thanks a lot and we'll be back with more. >> i'm rob roblin. it's a great day to go plunge in the water. come on down to sandy point state park for the polar bear >> saturday morning. thank you for joining us. on this day, thousands of people will jump into the icy water of the chesapeake bay and it's all to benefit special olympics maryland. let's check in with rob roblin. he's been out there all night long. what's going on? >> this man next to me, brian neiman from wbal-tv a.m. first time to super plunger. how do you

currency investor axle merck says the euro could be the rock star this year. he is here to explain.psule the future of space? you heard it about had here first last week. the head of the company that makes nasa's new experiment will tell us how the thing works. and how it is expandable as to inflatable. ashley: there is your space lab right there. tracy: but it is top of the hour. time for stocks as we do every 15 minutes. nicole petallides on the floor of the exchange. >> all right. good way to kick off the hour. let's just get to the markets. i think we'll save ourselves. let's take a look here at the dow, the nasdaq and the s&p. as we noted we've been sitting here at five-year highs and not too far off all-time highs. look at dow industrials. 13,881. you are. our high of the day was 13,887. these are the highest levels we've seen in five years. of course our all-time high, there it is right on cue, closing high, 14,164 and change. we're not too far off that, right? 282 points away. let's look at names on the move. start with proctor & gamble out with earnings. you can see the sto

mukhtar kent, chairman and ceo of coca-cola and kent "frasier", ceo of merck.et recipe? tracy: i hope so. ashley: never. president obama picking a former federal prosecutor to run the sec. is mary jo white the right woman for the job? tracy: federal officials briefing reporters on the investigation into boeing's dream liner. we'll have the latest on that ahead. as we head out to break let's look at some winners and losers on the s&p 500. we'll be right back tracy: president obama is moments away from announcing his latest nominations. peter barnes will join us with the details. first let's take a look at the dow quickly. it is almost near its all-time high. 14,164.53 was the high on october 9th, 2007. we are very, very close now. the dow is at 13,820. ashley: we're getting there. >> sure are. we'll go tore nicole first. nicole is standing by with keith bliss. >> no one loves the graphic more than i do. it is exciting to watch how close we are to all-time highs, keith. some of the traders i have spoken with, the high we saw today, 1,877 was a peak at least for n

merck is interesting. they're taking steps to pull a cholesterol drug off the market.day as well. of course bank of america, selling off on the news of wells fargo's earnings. back to you. tracy: stock was up like 83% over the last year or something. it can give a little back. all right, the s&p 500 still hovering nee a five-year high. do stocks have more room to run? our next guest seems to think so. he says the s&p will hit a 20-year high in 2013. rob morgan, chief investment strategist at fulcrum securities. rob, we look at it from the march 2009 lows, the s&p is actually up like 1150%. and you're saying you think it can keep going. >> yeah, tracy. i guess, it sound counterintuitive. a lot of people are saying, you know, well, as you said, we're close to the a five-year high, but at the same time that's made sentiment very bad. people are expecting a market, a market drop. and, but you look at everything else and of course bad sentiment is good for stocks. that gives us a wall of worry. look at thinks like the technical indicators. you look at things like expanding

that can produce multiple billions of dollars in the out years and i certainly don't see anything in merck's pipeline that can do that. verizon didn't help the cause. it's been such a good one. i think it will play catch up to at&t, which played catchup to verizon last year and the endless seesaw between the two. you no longer need to worry about skyrocketing taxes on dividends. united health kept back by lack of small business formation. up just 7% last year. got hammered on the down grade today. i don't see how much up side there can be without more job growth. which brings me to the real seller dwellers, what we call the dogs of the dow. start with johnson & johnson. 6.9% gain this year. i think 2013 the ceo takes matters into his own hands. it's one of my favorite dow stocks. ibm needs to show it's not falling prey to the centrist letdown. it's cheap, can easily double it's 4.2% gain from last year. the fact that coca-cola only increased 3.4% show as weaker dollar. microsoft. hard to love given its pc-based earnings power. yet last year's 2.9% increase does seem a little stingy consideri

and ken fisher, ceo of merck, a pioneer in new targeted therapy talking to liz, plus you know him, chairman and ceo of coca-cola. just the tip of the iceberg in terms of business leaders coming up. tune i into the fox business network all week long for the biggest interviews from davos. let's get to research in motion. the stock is jumping once again, cracking the $17 mark. heavy volume today. how much of this is due to a potential licensing deal? talking about selling the entire company, maybe it is just excitement over blackberry 10 due out at the end of the month. shibani joshi telling us about that. joining us, senior research analyst with an underperform rating and $7 price target on the stock. let's talk about where the stock is right now. many had discounted, ready to be torn apart, now there is renewed interest in this company. it's blackberry 10 going to deliver, do you think? >> at the end of the day they're facing a significant uphill challenge. they can turn into real numbers, and there is a lo a lot of anticipation around january 30 event. that is really what is still driving t

liz will interview coca-cola ceo and kenneth frazier, chairman and ceo of merck.two prominent leaders we cannot afford to miss it. when i have 60 minutes to go. we're counting down the minutes until oh, you know what, apple earnings. big. will the numbers get th the docr decided again? shibani joshi will break it down for you coming up next read axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm

it seems like some of our friends on the right, the merck merck [ censor bleep ] yeah people would careherapy, we run them through a billion tests. because people make money off of those. and we offer up pharmaceuticals -- we perpetuate the system of waste and overspending because there's a real financial benefit to that as opposed to taking the patient's health care needs into account. >> stephanie: right. and that exactly caps it. when he says there is not much money in physical therapy, which is why they refer to orthopedic surgeons and all of that. >> yeah, i watch -- i'll give you a quick example. i was in the emergency room once and watched an older woman who had like a back injury repeat the same information over and over and over again to multiple doctors. and it was because there was no patient coordination and they didn't talk to each other, and there was no record they could refer to, and this woman was in so much pain, and i kept thinking we could get her treated and move on -- there were so many nuances within that one scenario which exemplified though problem. >> stephanie

i saw names like mcdonald's, american express, merck, intel. it was all red with a few exceptions so we improved. ashley: if i'm a facebook investor i will push the like button on this one, nicole. it is up 40% in the last three months. >> facebook is soaring almost 30 bucks now. ashley: wow!. sandra: whoa. facebook not only social networking site doing well today. zynga the gaming site, also in the green? [closing bell ringing] >> we're watching obesity drug. did very well today. sandra: nicole. the bells are ringing on wall street. let's look how stocks are finishing off the dow off the lows of the session. down 51 points for the day. s&p 500, which had been at five years highs. it is at 1461, down five points on the day. tech-heavy nasdaq down three points the record winning russell 2000 late, fell 4 points. ashley: we cut that in half almost. despite a small move to the upside by oil today. called it a pop of 10 cents, energy bear, efy, outperforming today the leveraged etf makes a triple bearish bet on energy market, a trifecta if you like

merck moving its business there too. everyone at the summit elks knows we are all beholden to big business to make our small ones strong. that's how it works. you got to stop the rhetoric, politicians. go work in the inn. george mcgovern recognized what it was like. neither big nor small business wants a government shutdown, plus the other big voting contingent. the elderly. they are not cool on missing that social security check last time i looked. you will make a bargain. one more reason why it won't be such a vicious showdown. we act as if the democrats are the parties of tax and spend, the republicans are the party of borrow and spend. did you see any evidence of the bush administration that there was any entitlement cutbacks? i don't believe most republican politicians have discipline when it comes to spending or they wouldn't have been nearly as profligate, give me a break. this won't be much of a show count. republicans -- come here, come here, the republicans, they don't want to cut spending either. embarrassing

merck reporting, for shares of 81 cents of sales on 85 billion which means 7% job in revenue growth year over year. next week a bit of a china theme. well hear from buy due. barclays cautious on guidance here. and finally, yum brands, downgrading to market reform, knowing that china continues to investigate yum's chicken supply. back to you. >> thanks, josh. you know, we are down about 19 points, the fed did exactly what we thought the fed would do. the market didn't react to gdp report which surprised all of us here. seems to me to be all about earnings. >> that's right, i think it is. i think what the market is telling us is this great move. grinding here on the last day right after yesterday's report. it is just digesting. a little bit of exhaustion and i think it needs to catch up with itself. we are not seeing it catch up with itself by any stretch. i don't think there are any catalyst at the moment like 1525. >> i think the market did react it gdp numbers. i think that market used to be afraid after ma crow melt down. some problem with the government shutting down or melt down in e

merck went to 120. i said what's next? 3m and then waste management and pepsi, coke, reebok, 90 goes to 120. anyway, at a certain point i knew i had a good run. and ridiculous, and what mattered was i identified the animal spirit that would lift stocks when everyone figured it would be a matter of time that the market collapsed. a few years later, the crash of '87. made a ton of money buying stocks that went to 90, it meant they would go to 120. coke, pepsi, whatever. but it happened. just like chipotle could get hit and the stock rallies 10 bucks today? asml, a semiconductor equipment, a nasty horrendous number, buyers rushed in and rallied to a 52-week high. this sheer t here is the bottom line. get a boo-boo out, what's going on in jellystone national park. if boeing didn't go down on the biggest product recall in history, you have to be fearful of betting against any stock. and heaven forbid if boeing which closed at 75 trades to 90, because stocks that trade to 90, you know the rest of the sentence. all right. how abo

or merck? i said, wow, this isn't natural, this is a billion dollar formulation. >> well, it's very simple. you know that we have a diagnostic card we're developing for vitamin d, itself a $3 billion plus market in the united states. we had to become expert at vitamin "d" and we learned about this company in canada, which was not for sale, but we contacted them and before long we were able to strike a deal and now that's part of opko. >> do you think they will sell some of that 20 million shares so our viewers will be able to get in? or should our viewers do what you're doing, buying hundreds of thousands shares in the open market seemingly for the last few months every time i look? >> you know, i can't speak for them. i hope that they will be with us a very long time as loyal shareholders. >> fair enough. how about these partnerships you're arranging? what are they doing for you? >> well, they have a product also in phase three clinical trials for nausea vomiting associated with chemotherapy.

lets elook now at shares of merck which are higher by about a half a dollar the 43.26. sue? >> market's treading water right now, ty. dow jones has a modest game. it actually just now turned negative. it is making me wrong on that. it was higher five minutes ago. now turning down on day by nine points. s&p down three and nasdaq is down almost 1 1/2. everyone is waiting for the earnings picture. we want it see more of the big banks reporting to see if there is a trend. the head of that, everybody i talked to down here is very hesitant to be either aggressively long or short the market. >> but sue, i thought the most interesting thing i learned today on this broadcast was that the news that individual invest oors seem to be pouring money into equity funds for a change. >> yeah, absolutely. >> so either rightly or wrongly, they are jumping in even if pros are holding back. folks thank you for watching "power lunch" today and everyday. that does it for this edition. >> have a great day, everybody. "street signs" begins right now. >>> something's happening in the stock market tha

are those now our father stocks like merck and pfizer and lilly were before them or general motors, bethlehem steel and woolworth were before those? i would argue kind of, yeah. apple being revalued identically to intel, microsoft and oracle on earnings basis, lower than those. those were once high-growth stocks where the growth has stalled out. their shares trade at a discount. apple in a sad way is a source of funds. it's supplying the fuel for the revaluation higher as it sheds billions of dollars in market cap, money that goes into the other segments of tech and the rest of the market in general. fine young stock cannibals. all these revaluations are playing out right now and that's why we're seeing such a robust market. money coming in from the sidelines, recognizing with washington off the front pages with loan growth picking up and interest rates on bonds not competitive, it's time to pay more for stocks. here's the bottom line, this is the kind of super bullish moment we only see once or twice a decade when we decide the old tv show has it backward, the prices aren't right, they're wr

that there from merck, i do think she could have killed him. -- that stair from her, i do think she could have killed him. guest: i think that those words, i would say chuck hagel was completely right. they were defining moments. it was a lightning strike for those people in how they viewed american power, american strategy, decisions to m. -- to deploy forces. i think gary and some of his colleagues, you see that as the moment where chuck hagel structurally broke away from infrastructure about one american power as they were defining it. i come out of the realist tradition. i used to run the nixon center in town and the nixon wing of the republican foreign policy establishment largely applauded chuck hagel. this is not democrats versus republicans. these are views about the world and strategy which really exist inside both parties. we make a mistake -- i wish we had a real as line verses the other line. it is a very interesting moment. someone like me has so much respect for senator hagel. john mccain is international hero. so is chuck hagel. i have been at denver's -- eye was the emcee

in another comment later, senators merck lee and levin, both supporters of the volcker rule, wrote, the volcker rule demands wall street change its culture. the volcker rule can protect the u.s. economy and taxpayers from some of the greatest risks by the largest financial institutions while providing plenty of space for the financial institutions to provide the plain vanilla, low-risk, client-oriented services that help the real economy grow. these are certainly laudable goals. almost uniformly, however, critic os of the volcker act argue that it is those very plain va nil will, main street, customer products that will be harmed not necessarily by the text of the volcker rule as set forth in the dodd-frank act but by the draconian interpretation of the rule that the october 201 proposed rules would impose on the financial industry and their customers. notably, our foreign regulatory counterparts in europe, japan and china have been our most vocal critics. i met with them in ireland where i met with a distinct lack of enthusiasm from the e.u.'s group and the independent demigs on bankin

ask ken frazier, ceo of farther suit cal giant merck. >> i think the economy is poised to take off. i think it's poised to take off. it's the strongest in the world. >> reporter: it will grow 3.5% this year, a healthy number. and if there's debate about how things will get better, muhtar kent, the ceo of coca-cola says things aren't going get worse. >> the fear is largely gone. >> i don't think it's right to say it's gone. i think of it as walking on ice that isn't too secure, but i think everyone expected the ice to hold. >> reporter: what could crack that ice? if congress and the white house can't agree on the deficit or the debt ceiling. will washington work is the theme of the seminar in davos today. house majority leader eric cantor who's here will have to answer. that's the question on a lot of people's minds. why can't the u.s. get its act together? >> well, i think the thing that diff different yates us is we know what to do. >> reporter: the head of the international monetary fund christine lagarde says the u.s. has to confront this. if those decisions are postponed again -

everyone from the ceo of coca-cola to sap, we have general electric, merck, citi group, india companiestion's blackberry, china's hna, jpmorgan chase, and speaking of microsoft, bill of the bill and melinda gates foundation, don't miss the interview at 5:30 a.m. eastern time here on foks -- fox business. that's friday. all of that and so much more so stay tuned. [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. >> lori: this is your fox business brief, commuters had a rough ride. service restored at amtrack northeast corridor between new york and niewrks, new jersey after being suspended for mechanical problems. trains moving at restricted speeds still and there is congestion. the food maker tumbling after they voluntarily recalled frozen pizzas because of possible metal part

and merck have stopped financial contributions. but some conservatives remain staunchly opposed to change. in a statement the family research council said "if the board capitulates to the bullying of homosexual activists, the boy scouts' legacy of producing great leaders will become yet another kawesch tee of moral -- casualty of moral compromise." if the policy is changed, local troops would decide whether to admit gay members. >> finally the leadership is starting to listen to the voices of its members. >> reporter: in 2000, evan wolfson argued and won a supreme court case challenging the ban. >> a lot has changed in america since the 5-4 ruling in 2000. the military used to discriminate against gay people serving our country. the military no longer discriminates. americans didn't understand why gay people needed the freedom to marry. now nine states plus the district of columbia have gay couples sharing in the freedom to marry. >> reporter: now wolfson and other gay rights advocates say the changes have come about in the last de

and we were talking to merck's ceo about this, as well. there's pressure, of course, and governments are bringing in pressure to bring drug price down. where is the balance between the two? because, you know, we want cheaper drugs that provide for patients, but what does that do for you? >> you want, of course, affo affordable drugs, but on the other hand, we need new, good drugs because there is so much on the medical need. there are still so many diseases that are not supposedly treated. plus, science its made so much progress even in the last decade that there is an opportunity to come out with better drugs. and the simple message is the pharmaceutical industry understands that there has to be a certain control on the costs that cannot bring out of control. but on the other side, if you want to continue to have new drugs, we need to get, you know, rewarded for innovation. and this is a dilemma and not really all that is well understood by government. >> drought, very low yield from around the world. >> if value is good news, it's drivin

as ken frazier, ceo of pharmaceutical giant merck. >> i think the u.s. economy is poised to take off. i think it's been through some tough times. i think it's the strongest economy in the world. >> reporter: the imf forecasts the global economy will grow 3.5% this year a healthy number, and if there's debate about how soon things will get better, muhtar kemp the ceo of coca-cola, is confident they're not going to get worse. >> a year ago there was a lot of fear here. that's largely gone. >> i don't think it is right to say it's gone. think of it as walking on ice that isn't too secure. but i think everyone expects the ice to hold. >> reporter: what could crack that ice? if congress and the white house can't agree on the deficit or the debt ceiling. will washington work is the theme of a seminar in davos today. house majority leader eric cantor, who is here will have to answer. that's the question on a lot of people's minds, why can't the u.s. get its act together? >> you know i think the thing that differentiates the u.s. from so many of the other countr